UK overseas trade in goods statistics December 2024: commentary
Published 13 February 2025
漏 Crown copyright 2025
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Trade in goods summary
Data behind this bulletin is available through the聽聽website, where users can build their own tables according to the countries, commodities, and ports selected.
For more information on how we compile the trade in goods statistics, users must refer to the accompanying聽methodology notes. Further information about trade in non-monetary gold (NMG) can be found in the聽.
Total exports of goods for December 2024
拢36.3 billion down 拢2.2 billion, or 6%, on November 2024, up 拢7.2 billion, or 25%, on December 2023
Total imports of goods for December 2024
拢51.7 billion down 拢6.9 billion, or 12%, on November 2024, up 拢1.3 billion, or 3%, on December 2023
Source: UK overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
The UK was a net importer this month, with imports exceeding exports by 拢15.4 billion, narrowing the trade gap by 拢4.7 billion compared with November 2024.
Figure 1: Total UK monthly trade in goods, July 2023 to December 2024
Figure 1 shows total exports, imports and the trade gap for the period from July 2023 to December 2024.
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
In December 2024, exports fell by 拢2.2 billion after four consecutive monthly increases. Imports fell for the second consecutive month, down 拢6.9 billion compared with November 2024. This led to a decrease in the trade gap in December 2024.
Impact of non-monetary gold (NMG)
Movements in NMG can be large and highly volatile, impacting underlying trends in trade figures. More information can be found in the accompanying聽methodology notes.
Figure 2: Total UK monthly trade in goods including and excluding NMG, July 2023 to December 2024
Figure 2 shows exports and imports including and excluding non-monetary gold.
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
In December 2024, exports of NMG decreased by 拢562 million compared with November 2024. Exports excluding NMG decreased by 拢1.7 billion over the same period. Imports of NMG decreased by 拢375 million in December 2024 compared with November 2024. Imports excluding NMG decreased by 拢6.5 billion over the same period. In contrast to recent months, NMG was not the main driver of changes in the value of trade in December 2024.
EU听补苍诲听non-EU聽trade in goods
Exports to the EU accounted for 35% of the total value of exports, or 46% when excluding NMG.
Imports from the EU accounted for 47% of the total value of imports, or 52% when excluding NMG.
Table 1: Total UK trade in goods with EU and non-EU, December 2024 (拢 billion)
| Flow | EU | EU excl NMG | Non-EU | Non-EU excl NMG | Total | Total excl NMG |
|---|---|---|---|---|---|---|
| Exports | 12.8 | 12.6 | 23.5 | 15.0 | 36.3 | 27.7 |
| Imports | 24.2 | 23.5 | 27.5 | 21.9 | 51.7 | 45.4 |
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
EU exports for December 2024 were 拢12.8 billion. This was a decrease of 拢2.1 billion, or 14%, on November 2024, and a decrease of 拢1.2 billion, or 9%, compared with December 2023.
Non-EU exports for December 2024 were 拢23.5 billion. This was a decrease of 拢0.1 billion, or less than 1%, on November 2024, but an increase of 拢8.4 billion, or 56%, compared with December 2023.
EU imports for December 2024 were 拢24.2 billion. This was a decrease of 拢3.7 billion, or 13%, on November 2024, and a decrease of 拢1.4 billion, or 5%, compared with December 2023.
Non-EU imports for December 2024 were 拢27.5 billion. This was a decrease of 拢3.2 billion, or 10%, on November 2024, but an increase of 拢2.7 billion, or 11%, compared with December 2023.
Figure 3: Total UK monthly trade in goods with EU and non-EU, July 2023 to December 2024
Figure 3 shows total exports and imports for EU and non-EU trade for the period from July 2023 to December 2024.
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
EU exports fell for the second consecutive month, while non-EU exports remained stable in December 2024. Both EU and non-EU imports decreased compared with November 2024.
Exports: Country analysis
You can explore more聽UK聽export country data in the聽
Switzerland聽had the聽largest value聽decrease in exports on November 2024, down 14%, and the largest value increase聽in exports on December 2023,聽up to more than 10 times the value.
Table 2:聽UK exports of goods to the top 5 countries, value comparison with November 2024 and December 2023 (拢 million)
| Partner country | December 2024 | November 2024 | December 2023 |
|---|---|---|---|
| United States | 6,194 | 5,226 | 4,954 |
| China | 4,131 | 4,189 | 927 |
| Switzerland | 3,973 | 4,628 | 386 |
| Germany | 2,323 | 2,887 | 2,550 |
| Netherlands | 1,893 | 2,060 | 2,040 |
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
The USA remained the largest export partner country by value. It had the largest value increase on November 2024, up 拢968 million. This was driven by an increase in Precious metals. China was the second largest export partner, falling slightly in value on November 2024, but up 拢3.2 billion in December 2023 due to an increase in exports of Precious metals. Switzerland fell聽to third place from second. It had the largest value decrease on November 2024, down 拢655 million, led by a decrease in Precious metals. In contrast, it had the largest value increase on December 2023, up 拢3.6 billion, also led by an increase in Precious metals.
Figure 4: Historical export values for the top 3 export partner countries in December 2024
Figure 4 shows the values for the top 3 export partner countries for the period from July 2023 to December 2024.
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
The USA remained the top export partner in December 2024 accounting for 17% of the UK鈥檚 total exports. This is up from 14% in November 2024. Exports to the USA were up 19% on November 2024, to reach the highest value over the period shown. China became the second largest export partner, accounting for 11% of total exports in December 2024, compared to only 3% in December 2023. Exports to Switzerland decreased by 14% on November 2024, accounting for 11% of total exports, down from 12% in November 2024.
Exports: Chapter analysis
You can explore more聽UK聽export chapter data in the聽
Mechanical appliances聽had the聽largest聽value聽decrease聽on November 2024,聽down 13%.
Precious metals聽had the聽largest聽value聽increase聽on December 2023,聽up to 13 times the value.
Table 3:聽UK聽exports of goods of the top 5 chapters, value comparison with November 2024 and December 2023 (拢 million)
| Chapter | December 2024 | November 2024 | December 2023 |
|---|---|---|---|
| Precious metals | 9,967 | 10,170 | 762 |
| Mechanical appliances | 5,029 | 5,767 | 5,819 |
| Motor vehicles | 3,049 | 3,376 | 3,531 |
| Electronic equipment | 1,926 | 2,157 | 1,898 |
| Mineral fuels | 1,797 | 1,891 | 2,767 |
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
Precious metals remained the top export chapter in December 2024. It fell in value on November 2024, down 拢203 million. In contrast, it had the largest value increase on December 2023, up 拢9.2 billion. Exports of Mechanical appliances remained in second place but had the largest value decrease on November 2024 of 拢738 million, led by Germany. It had the second largest value decrease on December 2023, down 拢790 million. Motor vehicles remained in third place, down 拢326 million on November 2024, and down 拢482 million on December 2023.
Figure 5: Historical export values for the top 3 export chapters in December 2024
Figure 5 shows the values for the top 3 export chapters for the period from July 2023 to December 2024.
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
Exports of Precious metals fell slightly in value in December 2024, following a large increase. They accounted for 27% of the聽UK鈥檚 total exports in December 2024, up from 26% in November 2024 and 3% in December 2023. Exports of Mechanical appliances fell in December 2024, down 13%. They accounted for 14% of the聽UK鈥檚 total exports in December 2024. Motor vehicles accounted for 8%, remaining the third largest export chapter this month.
Imports: Country analysis
You can explore more聽UK聽import country data in the聽
China聽had the聽largest聽value聽decrease聽in imports on November 2024,聽down 27%.
Germany聽had the聽largest聽value聽decrease聽in imports on December 2023,聽down 19%.
Table 4:聽UK imports of goods from the top 5 countries, value comparison with November 2024 and December 2023 (拢 million)
| Partner country | December 2024 | November 2024 | December 2023 |
|---|---|---|---|
| United States | 6,116 | 4,586 | 5,537 |
| Germany | 5,510 | 6,732 | 6,807 |
| China | 4,654 | 6,415 | 4,614 |
| Netherlands | 3,398 | 4,117 | 3,679 |
| France | 2,625 | 2,858 | 3,320 |
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
The USA replaced Germany as the largest import partner country by value. Imports from the USA increased by 拢1.5 billion on November 2024. This was driven by an increase in imports of Precious metals and Mineral fuels. Germany had the third largest value decrease on November 2024, down 拢1.2 billion. This was led by Motor vehicles. Germany had the largest value decrease on December 2023, down 拢1.3 billion. This was led by Motor vehicles and Precious metals. Imports from China decreased by 拢1.8 billion on November 2024. This was driven by a decrease in imports of Electronic equipment and Mechanical appliances.
Figure 6: Historical import values for the top 3 import partner countries in December 2024
Figure 6 shows the values for the top 3 import partner countries in December 2024 for the period from July 2023 to December 2024.
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
The USA replaced Germany as the UK鈥檚 top import partner, after 14 consecutive months. The USA accounted for 12% of the UK鈥檚 total imports in December 2024, up from 8% in November 2024. Imports from the USA increased by 33% on November 2024 to the highest value over the period shown. Germany became the UK鈥檚 second ranked import partner, accounting for 11% of the UK鈥檚 total imports in December 2024. Imports from Germany decreased by 18% on November 2024 to the lowest level since September 2023. Imports from China decreased by 27% on November 2024 to the lowest level since April 2024. Imports from China accounted for 9% of the UK鈥檚 total imports in December 2024, down from 11% in November 2024.
Imports: Chapter analysis
You can explore more聽UK聽import chapter data in the聽.
Motor vehicles聽had the聽largest聽value聽decrease on November 2024,聽down 22%.
Precious metals had the聽largest聽value聽increase on December 2023,聽up 7%.
Table 5:聽UK聽imports of goods of the top 5 chapters, value comparison with November 2024 and December 2023 (拢 million)
| Chapter | December 2024 | November 2024 | December 2023 |
|---|---|---|---|
| Precious metals | 7,221 | 7,901 | 6,729 |
| Mineral fuels | 6,034 | 5,547 | 5,569 |
| Mechanical appliances | 5,664 | 6,379 | 6,095 |
| Motor vehicles | 4,940 | 6,342 | 5,852 |
| Electronic equipment | 4,410 | 5,761 | 4,349 |
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
Precious metals remained the top import chapter in December 2024. This was despite having the fourth largest value decrease on November 2024, down 拢680 million, led by Kazakhstan. In contrast, it had the largest value increase on December 2023, up 拢492 million, led by Uzbekistan and the USA. Mineral fuels rose to second place from fifth. It had the largest value increase on November 2024, up 拢487 million. This was driven by increased imports from the USA. Mechanical appliances fell to third place from second, having the third largest value decrease on November 2024, down 拢715 million, led by China.
Figure 7: Historical import values for the top 3 import chapters in December 2024
Figure 7 shows the values for the top 3 import chapters in December 2024 for the period from July 2023 to December 2024.
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs
Note: 2024 data is provisional
In December 2024, Precious metals accounted for 14% of the UK鈥檚 total imports, up from 13% in November 2024 but still lower than the 19% share reported in October 2024. The value of imports of Precious metals decreased by 9% on November 2024, but increased by 7% on December 2023. Imports of Mineral fuels rose to second place, accounting for 12% of total imports, up from 9% in November 2024. Mineral fuels imports increased by 9% on November 2024, to the highest value since January 2024. Imports of Mechanical appliances decreased by 11% on November 2024, but accounted for 11% of total imports in both November 2024 and December 2024.
Focus
Table 6: Exports to Germany, value comparison with November 2024
| Chapter | December 2024 (拢m) | November 2024 (拢m) | Change (拢m) | Change (%) |
|---|---|---|---|---|
| Mechanical appliances | 541 | 694 | -153 | -22 |
| Motor Vehicles | 220 | 303 | -83 | -28 |
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs聽
Note: 2024 data is provisional
Exports to Germany had the second largest value decrease of all countries on November 2024. This was a decrease of 拢564 million, or 20%. Between November 2024 and December 2024, exports of Mechanical appliances to Germany fell by 拢153 million or 22%. Exports of Motor Vehicles to Germany fell by 拢83 million, or 28%, over the same period.
Table 7: Imports of Motor vehicles, value comparison with November 2024
| Import partner | December 2024 (拢m) | November 2024 (拢m) | Change (拢m) | Change (%) |
|---|---|---|---|---|
| Germany | 1,312 | 2,291 | -980 | -43 |
| Belgium | 632 | 788 | -156 | -20 |
| Turkey | 293 | 424 | -131 | -31 |
厂辞耻谤肠别:听UK聽overseas trade in goods statistics from HM Revenue & Customs聽聽
Note: 2024 data is provisional聽
In December 2024, imports of Motor vehicles had the largest value decrease of all chapters on November 2024. This was a decrease of 拢1.4 billion, or 22%. Between November 2024 and December 2024, imports of Motor vehicles from Germany fell by 拢980 million, or 43%. Imports of Motor vehicles from Belgium fell by 拢156 million, or 20%, over the same period.聽 Imports of Motor vehicles from Turkey fell by 拢131 million, or 31%, over the same period.